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The two co-founders of WP Realty, a real estate company that owns retail centers along the Main Line and throughout the Northeast, have pleaded guilty to filing false tax returns.

Randall Stein, 55, of Bryn Mawr, Pa., and Bryan Weingarten, 53, of Ardmore, Pa., both admitted to three counts of filing false tax returns, according to a statement issued by the U.S. Attorney’s office. Each faces up nine years in prison. Stein, who plead guilty yesterday, is scheduled to be sentenced in February. No sentencing date has been scheduled for Weingarten, who plead guilty in April of this year.